The Monetary Policy Committee (MPC) of the Central Bank of Iceland has decided to raise the Bank’s interest rates by 0.25 percentage points. The Bank’s key interest rate – the rate on seven-day term deposits – will therefore be 7.50%. Three Committee members voted in favour of the decision, while two wanted to raise the key rate by 0.5 percentage points.

A statement of the Monetary Policy Committee will be published on the Central Bank of Iceland website, Wednesday 18 March, at 08:30 hrs. At 9:30 hrs., a press conference on the statement and the contents of the Monetary Bulletin will be held.